Five Things to Keep in Mind Before Purchasing Flats in India

Buying flats in India is not easy. Not only are the prices of real estate sky high, but the procedures too can be confusing and lengthy. Buying a new home or property is a big decision, even life changing in some cases. It is something one must do with great caution, with the right advise and research. After all it's not every day that you buy new property. Buying flats in India the biggest investment that most people get to make only once or twice in their lives. When you're making such big investment it's only right that you do it with utmost care and attention. So here are some things that you always need to keep in mind when you're buying or investing in property.

Once you find the property you love, the first thing to do is to check if the developer has all the legal licences and permissions in place. This will ensure that you don't put your money in a property which may not get completed or isn't legal. Some of the things you need to check for are whether the land of the construction belongs to the builder or if he just has development right.

Banks financing the project: Builders tie up with banks that fund their projects and also offer loans to potential buyers for that particular property. If no banks are associated with the developer there is a chance that his finances aren't clear and the project might be in jeopardy.

Actual area of the flat: If you go to buy a 3 bhk flat in Gurgaon or a 4 bhk flat in the Ahmedabad the area that the broker or developer with tell you is the super or built-up area. The actual area is a little lesser than the built up and the cost of your flat needs to calculated on that basis.

Don't be fooled by sample flats: Sample flats are done up in a way that makes them seem spacious, airy and well lit. You need to remember that your flat will not come with same fitting, the same furniture and the same lighting. Its very easy to get fooled by sample flats.

Clause for late possession: This is something that a lot of people who buy under construction flats in India struggle with. Delay in getting possession of the flat that can end up costing you. Most developers seek a 3-6 month grace period for final delivery of the project. This grace period should be mentioned explicitly in the contract you sign with them.

Buying Residential apartments in India is not easy. Not only are the prices of real estate sky high, but the procedures too can be confusing and lengthy. Buying a new home or property is a big decision, even life changing in some cases.

Buying a foreclosed home is a good way to either make money or gain immediate equity in a home for many people. If you are just getting started, you need to know all the possible risks that come along with buying foreclosures.

At A-K Real Estate, Samer Kuraishi along with Richard Balles, will help you find great deals; not good deals, but great deals with plenty of equity, cash flow and multiple exit strategies. These types of deals can withstand mistakes, surprises and worst case scenarios such as the recent bust

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Home Sellers need to think really hard on what kind of strategy they will do so they can dispose of their properties according to their own preferences. A trusted realtor could help them list homes and other properties but it is still up to the seller how they would attract potential home buyers.